Oireachtas Joint and Select Committees

Thursday, 4 April 2019

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach

Insurance Costs for Small and Medium Businesses: Discussion

Photo of Michael McGrathMichael McGrath (Cork South Central, Fianna Fail) | Oireachtas source

I am not sure if Mr. McMahon heard any of the testimony during the previous session. Linda Murray, who owns a play centre in Navan, spoke passionately about her difficulties. It is 25 days away from potential closure. She cannot get a quote for renewal. It is symptomatic of wider problems, especially in businesses where there is public footfall. Where does Mr. McMahon apportion ultimate responsibility? He says that claims are too high and that judges are too generous. He has been critical of the role of some in the legal profession. Where does responsibility lie? Does all of this come back to claims and rewards, and the lack of follow-through for fraudulent claims? There seem to be no prosecutions or convictions, so there is no deterrent or consequence if a person takes a bogus claim and it does not work out, since he or she can try again with somebody else. Where does responsibility lie with regard to the insurance industry and payouts, as FBD Insurance sees it?

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